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As Gary Black, a tobacco ...
As Gary Black, a tobacco specialist for New York financial analysts Sanford Bernstein and Co., characterizes it, "This case on a scale of one to ten is a nine-and-a-half."
Especially in view of Gary ...
Especially in view of Gary Black's [of Sanford C. Bernstein] prediction that GP dollars will decrease, and we know that we just had two minimum wage increases.
Source: Gary Black, Sanford C. Bernstein & Co.
* Margin-dollar impact of the category plus all inside sales.
I disagree with, I think it was Gary Black
, who said you can take a bad convenience store and make it into a CTS.
Source: Gary Black, Sanford C.Bernstein & Co.
Portland NORML News - Friday, March 26, 1999
Gary Black, a tobacco analyst with the New York brokerage firm Sanford C.
said because most states have laws like Oregon's (called "modified
TOBACCO LAWYERS - Tobacco Law - Jury Awards $81M in Tobacco Lawsuit
Added analyst Gary Black, with the New York brokerage firm Sanford C. Bernstein & Co: "This will persuade the industry to start thinking the tide may be turning."
Portland NORML News - Wednesday, March 31, 1999
Gary Black, a tobacco industry analyst with the New York brokerage firm of Sanford C. Bernstein & Co., said the Portland decision shows that "the tide is turning.
The analyst said the Williams case is the fifth jury verdict against a tobacco company in an individual injury suit since the mid-1960s.
Three others were overturned on appeal.
The fourth, the San Francisco case, has been appealed, as the Portland case will be.
Tuesday's verdict is particularly significant because Oregon product liability laws are far tougher than those in California.
"The industry has got to recognize that . . . juries will increasingly favor the individual plaintiffs," he said.
Black said the industry has two choices: Reach a mass settlement for all individual claims or build the cost of continuing litigation into the price of cigarettes.
Black said Philip Morris can well afford the cost of adverse verdicts.
The company sold 11.38 billion packs during 1998.
At that volume, he said, the cost of the Williams decision comes to a penny a pack.
"If you had $10 billion in judgments in a year, the industry could raise prices by 50 cents a pack to cover that," he said.
Black said tobacco companies can look forward to years of suits.
"We've got a lot of incriminating documents, whistle-blowers you didn't have before and a lot of publicity associated with the (attorneys general) tobacco settlement," he said.